Electric Parking Brake Market Size is Valued at USD 12.00 Billion in 2023 and is Projected to Reach USD 25.31 Billion by 2032, Growing at a CAGR of 9.77% From 2024-2032.
The Electric Parking Brake (EPB) market is witnessing steady growth driven by the increasing adoption of electric and hybrid vehicles, advancements in automotive safety systems, and the demand for improved driving experience and convenience. Electric parking brakes replace traditional handbrake levers with electronically controlled actuators, offering benefits such as space-saving design, enhanced safety features, and automated functionality. Key market players such as ZF Friedrichshafen AG, Continental AG, and Aptiv PLC are investing in research and development to enhance EPB technology, including features like auto-hold functionality, hill-start assist, and integration with vehicle stability control systems. Additionally, stringent safety regulations, particularly in regions like Europe and North America, are encouraging automotive manufacturers to incorporate EPBs into their vehicle designs to meet safety standards and improve overall vehicle performance.
Top Key Players Covered in The Global Electric Parking Brake Market
ZF (Germany), Continental (Germany), Chassis Brakes International (Belgium), Küster (Germany), Aisin (Japan), Mando (South Korea), Hyundai Mobis (South Korea), Zhejiang Libang Hexin (China), Wuhu Bethel Automotive (China), Others
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Segmentation:
By Type
- Caliper Integrated EPB
- Cable Puller EPB
By Application
- Sedans
- SUVs
- Others
Electric Parking Brake Market Trend Analysis
Rise in Electric and Hybrid Vehicle Adoption: With the increasing adoption of electric and hybrid vehicles, the demand for EPBs is also rising. Electric vehicles (EVs) and hybrids often integrate EPBs due to their compatibility with electric drivetrains and the desire for advanced electronic control systems.
Advancements in Vehicle Safety Systems: EPBs are becoming an integral part of advanced vehicle safety systems, offering features such as automatic brake hold, hill-start assist, and integrated anti-lock braking systems (ABS). As automotive safety regulations become more stringent globally, the incorporation of EPBs is expected to increase.
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By Region
- North America (US, Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
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